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American State Bank Joins MoneyPass Surcharge-Free ATM Network

Posted on: Tuesday, 10 February 2004, 06:00 CST

American State Bank of Lubbock, TX, and Genpass, Inc., manager of the MoneyPass EFT network and the second largest ATM driver in the U.S.; jointly announced today the addition of American State Bank's 50,000 cardholders and 36 ATMs to the MoneyPass Surcharge-Free Network.

"MoneyPass immediately gives our cardholders as much Surcharge-Free ATM access throughout Texas and the Southwest as any competitor," stated Michael Epps, Executive Vice President and Chief Financial Officer of American State Bank. "We are constantly seeking ways to provide value to our customers, and MoneyPass was a natural. We looked at all the competing options, and MoneyPass pricing, combined with its regional and national ATM distribution, was by far the best," he continued.

"American State Bank is an important new participant in MoneyPass, with their strong presence in West Texas and sizeable cardholder base," stated Bipin C. Shah, chief executive officer of Genpass. He continued, "We welcome American State Bank to the fast-growing MoneyPass Network, and look forward to announcing several more MoneyPass Financial Institution partners in the next few weeks."

About American State Bank

American State Bank ($1.5 billion in assets) has been serving the public in the Lubbock, Texas market since 1948. American State Bank has 25 branches and 36 ATMs in West Texas, serving over 50,000 cardholders.

About Genpass, Inc.

Genpass, Inc., with headquarters in Pennsylvania, manages the MoneyPass(SM), MoneyMaker(SM), and MONEY BELT(R) EFT networks through its Irving, Texas-based subsidiary Genpass Technologies(R), LLC. The MoneyPass Network provides Surcharge-Free ATM Withdrawals to hundreds of thousands cardholders for over 100 Financial Institutions throughout the United States. Genpass Technologies, which drives ATMs and processes cards in all 50 states, is listed in ATM and Debit Card News (July 25, 2003) as the second largest third party ATM driver in the U.S. and in The EFT Data Book (2003 edition) as one of the largest transaction processors in the U.S., driving approximately 28,000 ATMs located throughout the country. Genpass processes over 360 million transactions annually. The company also operates Genpass ATM Solutions -- providing a strategic solution to ATM-owning and placement -- and Genpass Card Solutions, offering specialized card services such as payroll and medical benefits card programs. Genpass Service Solutions(R), a wholly owned subsidiary of Genpass Technologies, is the largest independent ATM servicing company in the U.S. Genpass, through its four operating divisions, is the only top processor to offer a vertically integrated product suite that includes every aspect of ATM driving, transaction processing, debit card and specialty card services, plus ATM maintenance and supplies from a single source.

About GTCR Golder Rauner, LLC

GTCR Golder Rauner, LLC, a leading private equity investment firm, owns and operates Genpass Inc., the parent company of Genpass Technologies, LLC, and its subsidiaries. GTCR currently manages more than $4 billion in equity capital invested in companies providing transaction processing, information technology services, financial services and marketing services.

 Contact: Patricia DiSanto 215-619-0992 Genpass Inc. pdisanto@genpass.comhttp://www.genpass.com/

SOURCE: Genpass

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